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What is IIA-CIA-Part1 Exam
The revised CIA Part 1 exam is well aligned with the IIA's International Specialized Practice Framework (IPPF) and also includes 6 areas that cover the fundamentals of internal accounting; autonomy and neutrality; efficacy and appropriate specialized treatment; quality assurance and renewal programs; governance, threat tracking and even control; and even the threat of fraud. The first part examines the understanding, skills and also the capabilities of the perspectives associated with the International Specifications for Household Accounting Specialized Technique, in particular the characteristic standards (1000, 1100, 1200 and 1300 series), as well as the criteria performance 2100.
Aspects of the IPPF are included such as the purpose of internal auditing and the basics of expert internal auditing technique. The program offers a higher rating with the IIA performance standards. The test covers the distinctions between obtaining and seeking advice from compromises. The review is about the appropriate disclosure of consistency with respect to non-conformance to specifications. The most important area is “Threat Governance, Management and Control”, which represents 35% of the audit. Part of the exam requires candidates to demonstrate a basic understanding of the concepts; another section requires candidates to demonstrate mastery of their knowledge, skills, and abilities.
Reference: https://na.theiia.org/certification/CIA-Certification/Pages/CIA-2013-Exam-Syllabus-Part-1.aspx
Registration steps of IIA-CIA-Part1 Exam
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Step 2: Signup/Login to IIA account
Step 3: Search for IIA-CIA-Part1 Exam
Step 4: Select Date and Center of examination and confirm with payment value of $435
IIA IIA-CIA-Part1 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Proficiency and Due Professional Care | - Competence and skills requirements - Due professional care in engagements |
| Independence and Objectivity | - Individual objectivity and impairment - Organizational independence |
| Foundations of Internal Auditing | - Internal audit role in governance, risk, and control - IIA Standards and Code of Ethics overview - Internal audit definition, purpose, and value |
| Quality Assurance and Improvement Program (QAIP) | - Internal quality assessments - External quality assessments - Continuous improvement of internal audit function |
IIA Internal Audit Fundamentals Sample Questions:
Which of the following would be addressed in the internal audit charter?
- A. Functional and administrative reporting lines for the chief audit executive
- B. Budget requirements for each engagement
- C. Audit engagements to be completed in the next fiscal year
- D. Expertise requirements for internal auditors
Correct Answer: A 🗳️
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An internal auditor observed that sales staff are able to modify or cancel an order in the system prior to shipping* She wonders whether they can also modify orders after shipping. Which of the following types of controls should she examine?
- A. Batch controls.
- B. General IT controls.
- C. Logical access controls
- D. Application controls.
Correct Answer: D 🗳️
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Internal audit is performing an engagement to determine whether there were indications of questionable bidding on a city s infrastructure project. As part of the engagement the internal audit activity became aware that certain firms tend to receive the contracts for large city projects. How should the internal audit activity proceed with the engagement and identify questionable bidding practices?
- A. Obtain at of the city s financial records to identify any firms that received payments for contracted goods and services.
- B. Obtain the city ' s contracting files to determine whether the city demonstrated efforts to solicit bids from various interested firms.
- C. Obtain the city s vendor listing to determine whether there was an adequate number of firms available to solicit bids for protects
- D. Obtain the city's official public meeting minutes to determine whether there were concerns about the contracting practices
Correct Answer: B 🗳️
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Which of the following statements is true regarding how the scope of a consulting engagement should be established?
- A. The engagement client should be able to determine the scope to be applied to the engagement
- B. The scope should include reviewing the effectiveness of the internal control environment
- C. The internal auditor should establish a scope that does not impair her objectivity
- D. Any attempts by the engagement client to limit the scope should be considered a scope limitation
Correct Answer: A 🗳️
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An internal auditor for a bank is planning an engagement of ATM activities.
Which scenario is most likely to expose the ATM activities to fraud?
- A. Lack of segregation of duties between card-issuing activities and PIN-issuing activities.
- B. Overlapping responsibilities between marketing and customer service activities.
- C. Frequent system downtime due to scheduled maintenance.
- D. Lack of training for staff who process ATM transactions.
Correct Answer: A 🗳️
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